ICICI Prudential Asset Management Company is changing the names and category of few of its mutual funds. Mutual funds of many Asset Management Companies are being changed after a recent circular by Securities and Exchange Board of India. This move by the regulator to make investing simpler for investors.

The new rule states that every mutual fund company can only have one mutual fund offering under each category.

ICICI Prudential Mutual Fund Names Changed: What should Investors do?

If Mutual Fund Name & Category Has Changed

If there is a change in category, an investor might have to change his strategy of investment in these funds. These extreme changes are largely in equity mutual funds. Debt funds category names have changed too but there is not much difference in their investment style.

If Mutual Funds Are Being Merged

If mutual funds are being merged, investors should not worry as the Asset Management company will take care of the merger. Since in the mergers, there is no real change in category, so investors need not make any changes to his investment strategy.

If Only Mutual Fund Name Has Changed

If only the name of the mutual fund scheme has changed, then there is no need to be concerned or do anything. Investors can simply continue investing as they already were.

Why are ICICI Prudential Mutual Fund Names and Categories Changing?

There are many mutual funds offered by different Asset Management Companies. Many of these are in effect duplicates of each other. Further, they also have names that might confuse and intimidate a new investor.

Keeping this in mind, Securities Exchange Board of India has decided to recategorize mutual fund schemes. It has also made compulsory that each Asset Management Company can only have one mutual fund under each category.

Thus, all Asset Management Companies are renaming, recategorizing, and merging mutual funds to comply with this directives by the regulator.

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